Brent at
$57
Crude oil
continued its fall, capping biggest annual decline since 2008 global
financial crisis. U.S. shale oil producers and the OPEC are ceding no ground in
the battle for market share amid a supply glut. West Texas Intermediate for
February delivery closed at $53.27 a barrel and Brent crude at $57.33 in the last day of the year. This is a 46 percent drop in 2014.
File photo: Getty Images
File photo: Getty Images
2 comments:
"Oil Falls: Worst Year Since 2008 Crisis"
instead should read:
"Oil Falls: Best Year Since 2008 Crisis"
Worst year for oil since 2008; and the countries and people who are affected negatively, and significantly, by the drop in prices, like Iran and the Iranians. And best year for consumers of oil products worldwide, but more in the short term, as low oil prices could slow down the development of alternative energy resources, and in the long term these prices might work against consumers as well.
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